Intraday Market Thoughts

Archived IMT (2011.02.02)

by Ashraf Laidi
Feb 2, 2011 19:24


Weekly S&P500 Relative Strength Index shows the highest overbought levels since September 2007. Last week was the S&P 500 fell for the 2nd straight week after it had SEVEN STRAIGHT WEEKLY GAINS. Those gains were the longest winning streak since 2007. IS THIS another sign of an impending top. NOTICE in the chart how there was a LAG in the S&P following the RSI decline. HAVE YOU VOTED FOR ME at the TWITTER AWARDS? Please state a reason here so that your vote is counted THANKS


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